InMode (NASDAQ:INMD) Stock Crosses Above 200 Day Moving Average – Here’s Why

InMode Ltd. (NASDAQ:INMD) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.26 and traded as high as $15.17. InMode shares last traded at $15.10, with a volume of 425,021 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on INMD shares. Weiss Ratings reissued a “sell (d+)” rating on shares of InMode in a research report on Thursday, August 6th. Barclays set a $19.00 price target on InMode and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Robert W. Baird decreased their price target on shares of InMode from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.00.

InMode Price Performance

The stock has a market cap of $858.75 million, a P/E ratio of 12.15 and a beta of 1.89. The stock has a 50-day simple moving average of $14.89 and a 200-day simple moving average of $14.26.

InMode (NASDAQ:INMD) last released its quarterly earnings results on Wednesday, August 5th. The healthcare company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $95.59 million during the quarter, compared to the consensus estimate of $94.89 million. InMode had a net margin of 20.69% and a return on equity of 11.99%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 earnings per share.

Hedge Funds Weigh In On InMode

A number of large investors have recently modified their holdings of the company. Leonteq Securities AG bought a new stake in InMode during the fourth quarter worth $26,000. Quadrant Capital Group LLC increased its holdings in InMode by 127.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,945 shares of the healthcare company’s stock worth $29,000 after acquiring an additional 1,091 shares during the period. Advisory Services Network LLC purchased a new stake in shares of InMode in the third quarter worth $37,000. Basepoint Wealth LLC bought a new stake in shares of InMode during the 4th quarter valued at about $39,000. Finally, Deutsche Bank AG increased its holdings in shares of InMode by 35.9% in the 4th quarter. Deutsche Bank AG now owns 3,927 shares of the healthcare company’s stock worth $58,000 after buying an additional 1,037 shares during the last quarter. 68.04% of the stock is currently owned by institutional investors.

InMode Company Profile

InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.

InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.

The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.